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Australian Prime RMBS Arrears Remained Steady In April 2012, S&P Report Says Jul 12
Standard & Poors, July 2012
MELBOURNE (Standard & Poor's) July 12, 2012--Loans underlying Australian prime residential mortgage-backed securities (RMBS) that are greater than 30 days in arrears rose 1 basis point (bp) to 1.62% in April 2012, compared with a month earlier, according to a recent report by Standard & Poor's Ratings Services. Total prime RMBS outstanding was down marginally, at approximately A$115.7 billion. Subprime RMBS arrears fell by 71 bps to 11.87% in April, with A$1.2 billion in subprime RMBS outstanding as of April 30, 2012. New arrears (less-than-30-days bucket) decreased by 63 bps and severe arrears (greater-than-60-but-less-than-90-days bucket, and greater-than-90-days bucket) fell by 8 bps during the month. In real dollar terms, subprime RMBS arrears fell by A$11.4 million. The low-documentation (Low Doc)...
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Research type: News
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